Accounting Information System: Overview

Published: 2021-07-02 04:32:49
essay essay

Category: Salary, Accounting, Accounting Information

Type of paper: Essay

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Here is a proposal for implementation of the plan for school payment to keep the student in school. The students shall be compensated on a monthly basis. They shall be paid 20% every month on successful attendance to the classes and a fine of 5% for failure to attend classes for any given day (Unless authorized by the school principal, for whom it shall not be for indiscipline case(s)).

The next 40% of the money shall be paid at the end of every academic year. This is to facilitate the students’ upkeep while out of school as they go on with their research work during the summer holidays.
The remaining amount shall be cumulatively paid upon successful completion of the course during the graduation ceremony. This will be a big boost to the students as the total amount will give the student a better start to either start their own jobs or use it to look for employment.
The payment shall be authorized by the principal upon confirmation from the class teacher of the attendance of the students. This is better done in public so that all those who do not attend school be ashamed of their acts. The payment shall however be effected by the school Bursar. The monthly payments shall be done by cash while the annual and terminal payments shall be effected by check only.
Q3.)
I strongly disagree. The cost of employee hiring and training can never be equated to the expected term of service. This is because, the training that the employee undergoes will later be subtracted from the salary and hence there is no sense in it being that it has to be amortized.
Some companies use that line of though to harass their employees and to silence them anytime they bring their grievances. Training is good both for the individual as well as the organization but amortization is going way overboard (Romney & Steinbart, 2008).

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